NEWS RELEASE

UNITED FIBER SYSTEM LIMITED RENAMED GOLDEN ENERGY AND

RESOURCES LIMITED FOLLOWING S$1.88 BILLION REVERSE TAKEOVER
(RTO) BY SINAR MAS-LINKED UNIT

RTO of Sinar Mas majority-owned PT Golden Energy Mines Tbk

completed on April 20, 2015

One of the largest RTOs in Singapore in recent years

Post RTO, Golden Energy and Resources Limited will be a subsidiary

of PT Dian Swastatika Sentosa Tbk, a Sinar Mas unit which is listed on
the Indonesia Stock Exchange

Company to conduct post RTO completion placement of up to

226,500,000 shares

RHB Securities Singapore Pte. Ltd.(formerly known as DMG & Partners Securities
Pte Ltd) was the Financial Adviser to United Fiber System Limited in respect of
the RTO for the acquisition of 66.9998% of the issued and paid-up share capital of
PT Golden Energy Mines Tbk (the Financial Adviser). The Financial Adviser has
not reviewed this press release and assumes no responsibility for the contents of
this press release.
SINGAPORE, April 23, 2015 SGX Mainboard-listed United Fiber System
Limited (United Fiber System, UFS, or the Company), effected a change in
company name to Golden Energy and Resources Limited (Golden Energy and
Resources or GEAR) on April 21, 2015, following the completion of a S$1.88
billion acquisition exercise of 69.9998% of PT Golden Energy Mines Tbk (Golden
Energy Mines or GEMS), a Sinar Mas-linked entity. The name change is to
better reflect the change in business focus to coal mining, forestry and trading
businesses of GEAR post RTO.

Golden Energy and Resources Limited (Company Registration No : 199508589E )

50 Raffles Place #32-01 Singapore Land Tower, Singapore 048623
Tel : (+65) 65365355 Fax : (+65) 6536 1360
SG/LH/HR0401/15

GEMS is one of the largest operating coal mining companies in Indonesia by

reserves, and has exclusive mining rights over concession areas covering an
aggregate of approximately 38,165 hectares.

The consideration of S$1.88 billion for approximately 69.9998% of GEMS was

satisfied via the allotment and issuance of 1,978,327,436 shares to the vendor,
PT Dian Swastatika Sentosa Tbk (DSS). An additional 65,818,033 shares were
also allotted and issued to DSS as compensation shares in accordance with the
terms and conditions of the share purchase agreement. Both DSS and GEMS are
listed on the Indonesia Stock Exchange.
At an Extraordinary General Meeting (EGM) held on April 8, 2015, DSS
shareholders voted in support of the RTO. This follows an earlier EGM by UFS
held on March 4, 2015, where shareholders of UFS approved, amongst other
things, the RTO and a proposed name change to Golden Energy and Resources
Limited.
Mr Fuganto Widjaja, GEARs Executive Director and Group Chief Executive
Officer, said, The completion of this RTO marks the start of an exciting corporate
journey for GEAR. We believe that GEAR is poised to emerge as an attractive
resource play with sizeable operations in Indonesia contributing to the power and
infrastructure industry. Post RTO, GEAR owns exclusive mining rights over
concession areas of approximately 38,165 hectares in Indonesia, forestry
concession rights of 265,095 hectares in four regents in South Kalimantan,
Indonesia, as well as operations and trading in coal.

A listing in Singapore provides us with a strong platform to further tap

opportunities in the Indonesian coal market and grow our business. I would also
like to thank shareholders of both entities for their strong support, which paved the
way for the successful completion of this significant reverse takeover exercise.

Golden Energy and Resources Limited (Company Registration No : 199508589E )

50 Raffles Place #32-01 Singapore Land Tower, Singapore 048623
Tel : (+65) 65365355 Fax : (+65) 6536 1360
SG/LH/HR0401/15

As at January 17, 2015, GEAR is committed to sell and deliver up to 217.5 million
tonnes of coal to GMR Coal Resources (GMR) over a period of 25 years. GMR
is a subsidiary of GMR Group, a leading infrastructure business group in India.
Additionally, GEAR is committed to sell and deliver up to 3.0 million tonnes of coal
to third party customers, and approximately 0.1 million tonnes of coal to PT
Purinusa Ekapersada under existing coal supply agreements.

On April 15, 2015, the Company entered into a Memorandum of Understanding

for a potential investment into Asia Resources Minerals Plc (ARMS), which is
subject to the execution of definitive agreements. An international mining group
currently listed on the London Stock Exchange, ARMS is engaged in the
exploration, development, mining and delivery of coal. ARMS operates its coal
mines through its subsidiary PT Berau Coal Energy Tbk.

Following the completion of the RTO and to comply with the shareholding spread
and distribution requirements set out in the Listing Manual (Minimum Spread
Requirements), GEAR will be conducting a placement of up to 226,500,000
shares. Trading in the Companys shares will be suspended from 9.00am
(Singapore Time) on April 23, 2015 and the Company will apply for resumption of
trading in board lots of 100 Consolidated Shares upon completion of the
placement exercise and satisfaction of the Minimum Spread Requirements.

Golden Energy and Resources Limited (Company Registration No : 199508589E )

50 Raffles Place #32-01 Singapore Land Tower, Singapore 048623
Tel : (+65) 65365355 Fax : (+65) 6536 1360
SG/LH/HR0401/15

ABOUT GOLDEN ENERGY AND RESOURCES LIMITED (GEAR)

Golden Energy and Resources Limited (GEAR), formed through the recently
completed RTO of SGX Mainboard-listed United Fiber System Limited, is
principally engaged in the exploration, mining, and marketing of thermal coal
sourced from its coal mining concession areas, covering an aggregate of
approximately 38,165 hectares in South Kalimantan, Central Kalimantan and
Jambi (a province in Sumatra), Indonesia.
Backed by the Sinar Mas Group, one of Indonesias largest conglomerates, GEAR
collectively owns the rights to mine more than 2.1 billion tonnes of thermal coal
resources, with coal reserves of 639.8 million tonnes, as at July 31, 2014.

GEAR has reserves of primarily thermal coal with an average calorific value range
of between 3,900 kcal/kg (arb) to 6,600 kcal/kg (arb).

Aside from coal mining and trading, GEAR is also engaged in the forestry
businesses, owning forestry concession rights of 265,095 hectares in four
regents, located in South Kalimantan, Indonesia.

Golden Energy and Resources Limited (Company Registration No : 199508589E )

50 Raffles Place #32-01 Singapore Land Tower, Singapore 048623
Tel : (+65) 65365355 Fax : (+65) 6536 1360
SG/LH/HR0401/15

IMPORTANT NOTICE:
The information in this press release may contain certain forward-looking statements that involve
assumptions, risks and uncertainties. Accordingly, such statements are qualified in their entirety
by, and are subject to, the more detailed information set out in the Companys circular dated
January 30, 2015 in relation to the RTO.
This press release is for information only and does not constitute an offer or a solicitation or an
invitation to purchase or subscribe for any securities in the Company. The Company will be issuing
and lodging an offer information statement in connection with the placement exercise in due
course (OIS) and any decision to subscribe for any securities in the Company pursuant to the
placement exercise should be made solely on the basis of information contained in the OIS and no
reliance should be placed on any information other than as contained in the OIS.
The information in this press release is not for publication or distribution, directly or indirectly, in or
into the United States. This press release is not an offer of securities for sale in or to any country
or jurisdiction except under such circumstances that will be in compliance with any applicable rules
or regulations of any such country or jurisdiction. No public offering of securities is being made in
the United States and the securities referred to herein have not and will not be registered under
the U.S. Securities Act of 1933, as amended, and may not be offered or sold within the United
States except pursuant to an applicable exemption form, or in a transaction not subject to, the
registration requirements of the Securities Act and state securities laws.

ISSUED ON BEHALF OF :

Golden Energy and Resources Limited

BY

Citigate Dewe Rogerson, i.MAGE Pte Ltd

55 Market Street
#02-01
SINGAPORE 048941
CONTACT

Mr Winston Choo/ Mr Ng Chung Keat

at telephone

DURING OFFICE HOURS :

6534-5122

(Office)

AFTER OFFICE HOURS

9068-2099/ 9781-3605

(Handphone)

EMAIL

winston.choo@citigatedrimage.com/
chungkeat.ng@citigatedrimage.com

002/15/002/GEAR
April 23, 2015

Golden Energy and Resources Limited (Company Registration No : 199508589E )

50 Raffles Place #32-01 Singapore Land Tower, Singapore 048623
Tel : (+65) 65365355 Fax : (+65) 6536 1360
SG/LH/HR0401/15